IECS- NASDAQ $0.50 stock won prestigious OIL and Gas... Message Board

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Microcap & Penny Stocks : IECS- NASDAQ $0.50 stock won prestigious OIL and Gas...

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To: wade brown who wrote (126)	1/29/1998 9:44:00 AM
From: wade brown	Read Replies (1) of 747

Everyone: Here is the latest news release: Thursday January 29, 7:01 am Eastern Time Company Press Release Industrial Ecosystems Inc. Announces Financing From the Bank of Montreal PACIFICA, Calif.--(BUSINESS WIRE)--Jan. 29, 1998--Industrial Ecosystems, Inc. (IECS)(NASDAQ OTC BB:IECS - news) announced today that the company has received $500,000 Canadian (CAD) in financing through an equal combination of debt and equity. The Bank of Montreal has loaned the company $250,000 CAD towards the upgrade of its Amherstburg ROP (Recovered Organic Products) plant. In addition, the company has closed on a $250,000 CAD private placement of restricted stock. CEO, Walter Kolbe, stated ''This is an important bridge to maintain our momentum until we complete a larger financing over the next few weeks.'' My commments: I can understand the need for bridge financing and it seems to come without alot of dilution, but I did not know the ROP just built needs upgrading anyone else understand this. wade

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